The General Arrangements to Borrow

Pamphlet Series, September 15, 1984

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The General Arrangements to Borrow

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Bibliographic details

• Authors: Michael Ainley
• Published: September 15, 1984
• Series: Pamphlet Series
• DOI: https://doi.org/10.5089/9781451981278.054

Summary

• Title: The General Arrangements to Borrow
• Author: Michael Ainley
• Date: September 15, 1984
• Format/Series: Pamphlet Series, No. 41
• Pages: 100
• DOI: https://doi.org/10.5089/9781451981278.054
• ISBN: 9781451981278
• ISSN: 0538-8759
• Note: English version reprinted March 1986 and March 1995.

Scope and purpose of the paper

• Examines the role of the IMF’s first and longest-lasting borrowing arrangements, the General Arrangements to Borrow (GAB), from their inception in 1961–62 to their fundamental reform and enlargement in 1983.
• Describes the GAB as "a product of the times" designed to help the IMF deal with growing strains in the par value system.
• Focuses on balance-of-payments problems of the two major reserve centers, the United States and the United Kingdom, as central motivations for the GAB.

Key developments and milestones

• Inception period: 1961–62.
• Strengthening event: association of Switzerland, a nonmember of the IMF, in 1964.
• Fundamental reform and enlargement: 1983.

Analytical emphasis and themes

• The paper treats the GAB in the context of:
  • Commodities
  • Credit
  • Currencies
  • Debt burden
  • External debt
  • Financial institutions
  • Gold
  • International monetary system
  • Lines of credit
  • Loans
  • Money

Keywords highlighted in the source

• amount, automatic credit lines, balance of payments position, Caribbean, Credit, credit arrangement, Currencies, Debt burden, distribution of call, Eastern Europe, Europe, Fund, fund in cooperation, Global, Gold, International monetary system, line of support, Lines of credit, liquidity position, Loans, nonmember of the fund, PAM

Publication and access notes

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• Citation example provided on the page: Michael Ainley. The General Arrangements to Borrow, (USA: International Monetary Fund, 1984) accessed 9/20/2026, https://doi.org/10.5089/9781451981278.054

International Monetary Fund. The General Arrangements to Borrow (Pamphlet Series, No. 41), Michael Ainley, September 15, 1984.